Industry Background:
Increased manufacture, as well as usage of cars, particularly in the established and urban parts of the world, will help to fuel the global parking management system market. The parking management system provides solutions for access control, security & surveillance, parking fee & revenue management, valet parking management, parking fee & revenue management, parking guidance & slot management and others. Today’s advanced parking management systems are intelligent ample to deliver a high level of convenience to the drivers, automating and simplifying the business operations and other tasks at the parking site.
According to AMA, the market for Parking Management Systems is expected to register a CAGR of 8.7% during the forecast period to 2026. This growth is primarily driven by Growing Demand for Smooth Traffic Flow, Rising Motor Vehicles Sell and High Demand of More Parking Space and Enlarged Concerns about Pollution, Security, and Connectivity.
Globally, a noticeable market trend is evident Emergence Of New Technology such as IoT and Sensor Network
. The Internet Software & Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Conduent (United States), Amano Corporation (Japan), Chetu (United States), Streetline (United States), Q-Free ASA (Norway), Indigo Park Services (United Kingdom), SWARCO (Austria), T2 Systems (United States), SKIDATA (Austria) and Flowbird Group (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 25th April 2018, Streetline has started the installation of the parking management enhancement program in the city of Scottsdale. Merchants will be able to publish real-time parking availability to their websites with ParkerMap to entice customers, and the city will gain valuable analytics from ParkSight to help it craft parking policies that fit the needs of the community.
On 25th April 2018, Streetline has started the installation of the parking management enhancement program in the city of Scottsdale. Merchants will be able to publish real-time parking availability to their websites with ParkerMap to entice customers, and the city will gain valuable analytics from ParkSight to help it craft parking policies that fit the needs of the community.
Market Drivers
- Growing Demand for Smooth Traffic Flow
- Rising Motor Vehicles Sell and High Demand of More Parking Space
- Enlarged Concerns about Pollution, Security, and Connectivity
Market Trend
- Emergence Of New Technology such as IoT and Sensor Network
- Increasing Use Of Advanced Parking Kiosks
- Introduction Of Cloud Computing In Parking Management System
Restraints
- Complexion in System Integration
- Rapidly Changing Technology
Opportunities
Huge Demand Due To Introduction Of Smart Cities and Fueling Demand Of Advance Autonomous Cars
Challenges
High Cost Of Installation Associated with Parking Management Systems
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Parking Management Systems Study Sheds Light on
The Parking Management Systems Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Parking Management Systems industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Parking Management Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.